NEXION Group Ltd (NNG), an ASX-listed company integrating software, compute, storage, network and cyber security to deliver reliable hybrid-cloud systems, has announced the issue of 900,000 convertible notes at $0.10 each, raising a total of $90,000. The notes were issued on September 12, 2025, to Wong Chi Wai Roy. This issuance brings the total number of $0.10 convertible notes currently on issue to 17,500,000, all under the same terms and conditions as detailed in the prior announcement on June 18, 2024.
The primary purpose of this capital raise is to cover costs associated with identifying and pursuing a suitable transaction. NEXION retains the option to repay the convertible notes in cash before their maturity date. These notes are unsecured, mature on May 31, 2026, and accrue interest at an annual rate of 10%. Interest payments are scheduled to occur at the earliest of the note’s maturity, conversion, or NEXION’s early repayment election.
The convertible notes are subject to shareholder approval, convertible into fully paid ordinary shares in Nexion. The noteholder will receive shares calculated by dividing the total face value of the convertible notes by $0.10. Additionally, the noteholder will receive 4.25 free-attaching options exercisable at $0.001 each and expiring on 30 June 2026 for every one conversion share issued. The company anticipates repaying the convertible notes fully in cash, with no conversion securities issued.
Conversion is contingent upon Nexion securing shareholder approval for the issuance of conversion securities, ASX approval for the note conversion, and confirmation that the proposed acquisition first announced on April 23, 2024, will not proceed, or that the proposed transaction does not occur by the maturity date. The announcement was authorized by the Board of NEXION Group Ltd.
